Much to our surprise we have been informed by our broker that my Thames Ditton solicitor is not on the lender Conveyancing panel. How can I be sure that this is correct?
The best course of action for you to take is to call your Thames Ditton lawyer directly. It is reasonable to expect your lawyer to notify you what has happened. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your lender.
Our lawyer has identified a a legal deficiency with the lease for the apartment we are buying in Thames Ditton. The other side have put forward defective title insurance as a solution. We are happy with insurance and will cover the costs. Our conveyancing practitioner says that he must be satisfied that the bank is willing to move forward with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your property lawyer will have no choice but to discontinue acting for you.
It is is a decade since I acquired my house in Thames Ditton. Conveyancing lawyers have just been retained on the sale but I can't track down my deeds. Is this a major issue?
You need not be too concerned. Firstly there is a chance that the deeds will be with the mortgage company or they may be in the possession of the solicitor who acted in the purchase. Secondly in most cases the land will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors obtaining current official copies of the land registers. The vast majority of conveyancing in Thames Ditton involves registered property but in the rare situation where your home is unregistered it is more tricky but is resolvable.
We are getting a further advance on our mortgage from Santander as we intend to carry out renovations to our property in Thames Ditton. Do we need to select a nearby Thames Ditton solicitor on the Santander conveyancing panel to deal with the legals?
Santander do not ordinarily appoint firms on their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Santander panel.
I have today made my last payment due on my mortgage with Co-operative. I assume I don't need a Thames Ditton property lawyer on the Co-operative panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Co-operative mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Co-operative mortgage from the register. Co-operative, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Co-operative has sent the Land Registry the discharge electronically, and
- Co-operative has instructed the Land Registry to do so
Yorkshire BS have agreed my mortgage in principle, my bid on a flat in Thames Ditton has been accepted, what are the next steps?
The property agent will need to be advised as to your conveyancing practitioner's details (ensure that the solicitors are on the bank’s approved list). Call up Yorkshire BS or the financial adviser and complete any relevant documentation. Yorkshire BS will instruct a valuer who will get in touch with the selling agent or vendor to schedule a slot for the valuation to happen. Once carried out (assuming no problems) it takes approximately a week to receive the mortgage offer. Yorkshire BS will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Thames Ditton.
How does conveyancing in Thames Ditton differ for new build properties?
Most buyers of new build residence in Thames Ditton contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is constructed. This is because builders in Thames Ditton usually purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Thames Ditton or who has acted in the same development.
I own a basement flat in Thames Ditton. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?
You certainly can. We are happy to put you in touch with a Thames Ditton conveyancing firm who can help.
An example of a Lease Extension case for a Thames Ditton premises is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case was in relation to 1 flat.
What makes a Thames Ditton lease problematic?
There is nothing unique about leasehold conveyancing in Thames Ditton. All leases are unique and legal mistakes in the legal wording can result in certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:
-
Insurance obligations A provision to repair to or maintain parts of the building
You could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Leeds Building Society, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.